Comments by "Michael RCH" (@michaelrch) on "Boris Johnson delivers resignation speech as Theresa May faces Brexit backlash" video.
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Left of Centre Brexit
Ok, I have listened to Gerrard Batten, UKIP leader talk about their Brexit plan and he it boils down to inheriting the EU laws and going onto WTO rules.
But that doesn’t touch any of the regulation which is huge.
And no, just because we mirror EU regulations, that does not mean that we don’t have to recertify with EU regulators to get access.
And it’s not 40% more customs checks - it’s much much more. Remember that a large amount of what is imported is parts in supply chains that then get worked on and re-exported, and vice versa. This doesn’t show up as the NET export value is much lower than the total value of goods going to and fro. You must have heard that some parts of the Minis made in Oxford cross the border 4 times before they end up in a finished care. All those shipments now get bogged down in customs making JIT manufacturing, a central principle in lean supply chains, impossible. These factories will simply grind to a halt.
And the idea of going over the cliff then making more deals later will be a disaster. Businesses take years to get going, to get customers, to get processes efficient and competitive. When the free movement of goods and services stop, all the businesses that depend on them will become untenable or have to dramatically scale back operations. Their customers in Europe will immediately have to switch to EU suppliers. When, years later, the U.K. does further deals and firms get the opportunity to re-enter the market it will take years to win back even a small part of the business that has been lost. I run a business. I know what this is like. The U.K. will NEVER recover it’s previous position.
As for the EU suffering as UKIP also like to say, yes, they will in some areas, but in others they will see huge gains. Trading in Euro denominated securities will all move to Paris and Frankfurt. The U.K. banks will lose their passporting rights so all the EU operations of U.K. financial institutions operating in Europe will have to move to EU countries. These are currently fantastically profitable and bring in huge amounts of tax, plus they contribute a huge amount to our balance of trade, but after Brexit, they will be gone forever.
I could go on and on. UKIP’s plan is not a plan. It’s a fantasy.
Neither Davis nor Johnson nor the ERG have set out a credible plan to leave the EU that won’t either be rejected by the EU or that won’t cripple the economy. So all they do is shoot down anything they don’t like.
And this is NOT what we voted for. 66% of people prioritised the Single Market over reducing immigration in 2016, including 42% of LEAVE voters. That’s a majority that was happy to stay on the single market and was happy to keep free movement ie be a member of the EEA. But the Hard Brexiteers got their hands around the throat of the PM and no we are facing a disaster. May should never have promised to leave the single market and customs union. It was idiotic, undemocratic, short sighted and cowardly. We are all paying for that now.
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